China has expressed strong confidence in achieving its annual economic growth target of around 5 percent, as Vice Minister of Finance Liao Min outlined at the World Bank’s 110th Meeting of the Development Committee in Washington DC on Friday.
During the meeting, Liao Min emphasized that China will strengthen its counter-cyclical fiscal policy efforts. By leveraging government spending to stimulate social investment, boost consumption, and increase effective demand, the nation aims to fortify its economic trajectory.
Liao highlighted the recent rollout of a comprehensive package of incremental policies by the Chinese government, which has garnered significant attention from the international community. He noted that China will implement strong measures to address local government debt, stabilize the real estate market, increase income levels of key groups, and ensure the future well-being of its citizens.
Expressing optimism, Liao stated that China’s economic strategies will not only help meet its own growth targets but also continue to contribute positively to global economic growth.
The comments made by Liao Min at the World Bank meeting reflect China’s commitment to proactive fiscal policies and its role in the global economy amid a complex international landscape.
Reference(s):
cgtn.com
